NETMAT: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
NETMAT
Largest movements
- Receivables within one year +€18,732
up €18,732 (+14.1%), from €132,742 to €151,474
- Cash -€4,053
down €4,053 (-92.8%), from €4,366 to €313
mainly Receivables within one year (-€18,732) and Tax, wage and social debts (-€4,134)
- Trade debts +€10,042
up €10,042 (+39.6%), from €25,354 to €35,396
- Reserves +€8,000
up €8,000 (+18.7%), from €42,680 to €50,680
of which Distributable reserves: +€8,000
- Tax, wage and social debts -€4,134
down €4,134 (-36.4%), from €11,344 to €7,211
- Gross operating margin -€11,014
down €11,014 (-39.0%), from €28,253 to €17,239
- Taxes -€3,774
down €3,774 (-49.3%), from €7,648 to €3,875
- Other operating charges +€2,501
up €2,501 (+237.0%), from €1,055 to €3,557
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,107 | €153,689 | +€14,581 | +10.5% |
| Fixed assets | 21/28 | €446 | €167 | -€279 | -62.6% |
| Tangible fixed assets | 22/27 | €421 | €142 | -€279 | -66.2% |
| Plant, machinery and equipment | 23 | €421 | €142 | -€279 | -66.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €138,661 | €153,522 | +€14,860 | +10.7% |
| Stocks and contracts in progress | 3 | €209 | €152 | -€57 | -27.2% |
| Stocks | 30/36 | €209 | €152 | -€57 | -27.2% |
| Amounts receivable within one year | 40/41 | €132,742 | €151,474 | +€18,732 | +14.1% |
| Other amounts receivable | 41 | €132,742 | €151,474 | +€18,732 | +14.1% |
| Cash at bank and in hand | 54/58 | €4,366 | €313 | -€4,053 | -92.8% |
| Deferred charges and accrued income | 490/1 | €1,344 | €1,582 | +€238 | +17.7% |
| Total equity and liabilities | 10/49 | €139,107 | €153,689 | +€14,581 | +10.5% |
| Equity | 10/15 | €102,409 | €110,823 | +€8,415 | +8.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €42,680 | €50,680 | +€8,000 | +18.7% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €34,680 | €42,680 | +€8,000 | +23.1% |
| Profit (loss) carried forward | 14 | €53,532 | €53,946 | +€415 | +0.8% |
| Amounts payable | 17/49 | €36,698 | €42,865 | +€6,167 | +16.8% |
| Amounts payable within one year | 42/48 | €36,698 | €42,865 | +€6,167 | +16.8% |
| Financial debts | 43 | - | €258 | +€258 | |
| Credit institutions | 430/8 | - | €258 | +€258 | |
| Trade debts | 44 | €25,354 | €35,396 | +€10,042 | +39.6% |
| Suppliers | 440/4 | €25,354 | €35,396 | +€10,042 | +39.6% |
| Taxes, remuneration and social security | 45 | €11,344 | €7,211 | -€4,134 | -36.4% |
| Taxes | 450/3 | €11,344 | €7,211 | -€4,134 | -36.4% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €279 | €279 | = | 0.0% |
| Other operating charges | 640/8 | €1,055 | €3,557 | +€2,501 | +237.0% |
| Non-recurring operating charges | 66A | €3 | - | -€3 | |
| Gross operating margin | 9900 | €28,253 | €17,239 | -€11,014 | -39.0% |
| Operating profit (loss) | 9901 | €26,916 | €13,403 | -€13,513 | -50.2% |
| Financial charges | 65/66B | €1,294 | €1,114 | -€179 | -13.9% |
| Recurring financial charges | 65 | €1,294 | €1,114 | -€179 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €25,623 | €12,289 | -€13,333 | -52.0% |
| Income taxes | 67/77 | €7,648 | €3,875 | -€3,774 | -49.3% |
| Profit (loss) for the period | 9904 | €17,974 | €8,415 | -€9,560 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,974 | €8,415 | -€9,560 | -53.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.